TradeKing is one of the most trusted names in online investing, and it’s automated robo-advisor offering is no different from its core offerings.
TradeKing offers a wide range of options for its automated robo-advisor, TradeKing Advisors, making it one of the most appealing offerings when it comes to auto-investing. Along with no trading fees, this makes TradeKing our top pick.
Core portfolio: The minimum deposit and balance for a Core portfolio is $500. Portfolios with a balance under $5,000 are charged $1/month, while portfolios over $5,000 are charged an annual fee of 0.25%.
Momentum portfolio: The minimum deposit and balance for a Momentum portfolio is $5,000 and is charged an annual fee of 0.50%.
Trading fees: Unlike other automated robo-advisors, TradeKing Advisors does not charge investing fees. Portfolio fees are the only fees you can expect to pay.
TradeKing Advisor offers IRAs, rollovers and other taxable accounts. It puts your money in both ETFs (exchange traded funds) and ETNs (exchange traded notes), which act a lot like mutual funds, but are cheaper and more tax effective. TradeKing offers two options for investing:
Core portfolio: TradeKing Advisor’s Core product is meant for a very “hands off” approach to investing. Investments are made and monitored, but will only be adjusted as needed when there is major fluctuation.
Momentum portfolio: On the other hand, TradeKing’s more expensive portfolio option, Momentum, constantly monitors your investments and will be adjusted in more short-term time periods to make sure you are getting the most out of your investments.
TradeKing Advisors has a lot of the same features as the other robo-advisor offers, like automatic rebalancing and tax-loss harvesting, as well as these features:
Risk Assist: Risk Assist is available for Core accounts for an extra annual fee of 0.5% on account $5,000 and above. Risk Assist monitors the markets daily for sharp drops and will reallocate your assets to accounts that are less affected by the market.
Entity Accounts: TradeKing Advisors offers entity accounts for corporations, LLCs, etc, and is one of the only robo-advisor that does.